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"Little China" / Tech Zone area, San Antonio, Makati

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"Little China" / The Tech Zone area (off Sen. Gil Puyat), San Antonio

Big Profits in Little China? That is the hope of some investing there - near to Makati's CBD

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Techzone area : (Lower arrow buildings are): Cityland 1 & 2, ... Arrow at right: Victoria Tower (cheapest new condo in the area)

In front of the TechZone building, 100 West is rising. It is being built by Filinvest

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The new Techzone PH building has many tenants with connections to the Online gaming industry and Mainland China ... PD : PD2 .

 

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.

There are said to be many companies there with online businesses in China, and hence many Mandarin-speaking call center employees work there,

...and live nearby, in buildings like:

+ The Linear
+ Avida Makati West
+ Victoria Tower, on Washington St.
+ Avida Towers, Asten Tower-1 will be turned over in Q4-2017.
+ 100 West is now under construction, to be completed in 2020, maybe

The new Avida Asten Towers (see post #4) should also benefit from the jobs in the TechZone building too

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Techzone Philippines: "an information technology center" / with POGO tenants

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Techzone Philippines Building, 213 Senator Gil Puyat Avenue, Barangay San Antonio, Makati.
Height (estimated):      103.02 meters
Floors (above ground): 27
Construction start:        2012
Construction end :         2015
> https://www.emporis.com/buildings/1210090/techzone-philippines-makati-philippines

LR is a 50% owner of the Techzone Bldg ... All-data-Log : 10-yrs : 5-yrs : 2-yrs : 6-mos / 10-d

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Leisure And Resorts World Corp (LRWC) / Our Business Groups | LRWC

LR Land Developers, Inc. (LR Land) is the real estate arm of the LRWC.

LR Land has a 50% joint venture real estate property development project in Makati City called Techzone Philippines, Inc. (Techzone).

Techzone constructed a ...

"... the construction of the Techzone project, a joint-venture between Techzone Philippines and LRWC subsidiary LR Land Developers, Inc. for a business process outsourcing building along Gil Puyat Ave. in Makati City, which will have 75,000 square meters of gross floor area..." ( Mar. 2013 Business World report)

Feb 6, 2013 - "Reyes also said that LRWC might allocate another P500 million for a joint venture project to build an office building in Makati called Techzone."

Techzone Philippines, Inc. |

TPI has built a world class-32-storey BPO building along Buendia (Gil Puyat Ave) in Makati. TPI tenants are in various stages of moving into these offices

BusinessWorld | Gaming firm swings to profit

www.bworldonline.com/content.php?section=Corporate&title=gaming-firm...

Mar 16, 2013 - the construction of the Techzone project, a joint-venture between Techzone ... process outsourcing building along Gil Puyat Ave. in Makati City, ...

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Techzone Tenants include

...mostly Online Gaming, BPO,call centers, software, and outsourcing companies like:

Monaco1 : on 27th Floor, of TechZone

Monaco1 is one of the fastest provider of knowledge-intensive business process outsourcing (BPO) and software services for customers around Asia.

With a customer-focused attitude, desire to understand customer business & identify the right partner for executing the job, we act as a one-stop shop for business process outsourcing. Our main goal is to reduce your costs while transforming your operations for sustainable benefit. As we focus and deliver internal improvements that increase the efficiency and profitability of your organizations.

Specialties

Web Designing, System Development, IT Consulting, Software as a Service (SaaS), Online Marketing & eMarketer, Server & Network Infrastructure,

Streaming Media Consultant, Big Data Mining

  • Website : http://monaco1.ph/
  • Industry : Outsourcing/Offshoring
  • Type : Public Company
  • Headquarters

    27th Floor, Techzone Building, Sen. Gil Puyat Ave, Makati City, Manila 6795 Philippines

  • Company Size : 501-1000 employees'
  • Founded : Established in 2010 in the central business district of Makati City,

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Avida Asten (with Three Towers) is directly across Malugay street from Techzone

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Avida Towers Asten is located at the corners of Malugay, Yakal, and Lumbayao streets, next to Avida Towers Makati West

Tower-1 shown above, is (nearly) sold out. Tower-2 is being sold now, and Tower-3 will be released in the first half of 2017 (at higher prices?)

Prices for a 22 Sqm Studio are in the region of P 2.5 million (about P 114k psm) to P2.6 mn (P 119k psm) for higher floors.

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iAcademy - new office coming near Linear / TechZone area

The ground was broken very recently

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> ssc thread: http://www.skyscrapercity.com/showthread.php?t=1987103

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100 WEST - The renders are looking good

From ADEA (architects)

project-100-west-3-1536x2048-b18c534e71f

100 West's completion is still 2 years away

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> SSC: http://www.skyscrapercity.com/showthread.php?t=1683963&page=3

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WHY the rising Vacancies? Is it due to New competition?

Avida Makati West : 0 20 : 1150 : 230 : 20/230= 8.7% estimated vacancy rate

Why are the Vacancies so much higher at Avida Makati West, than Avida SanLo (2.6%)?

I reckon it is because a new building was completed not many months ago, and it is sucking tenants out of other buildings, especially in its area, near Tech Zone

A principal new competitor (because it is so LARGE) seems to be...

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:Condos-for-Sale-in-Makati-Victoria-De-Ma

Victoria De Makati - with about 950 units, which was turned over earlier this year. : zipmatch :

The units there are VERY bare, mere shells which need proper ceilings, kitchens, and everything to be installed. And this takes time - several weeks and even months for many flats

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2BR / 3BR flats are on two levels, with small windows and small rooms

This was one of the cheapest new condos in Makati. 5 years ago, people were buying at between P50-60k per sqm.

This means that some owners may have rented in Avida MW while they waited for their units to be turned over, and others may have moved out, to get larger flats at lower rents

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Example : RENT 2BR at Victoria de Makati :

₱ 25,000 Per Month (Note: part of a "payment scheme" so may be misleading.)
Floor Area : 42 SQM (P 595 perr sqm)
List Date : 22 August 2017

Makati City, Makati Aven...

Victoria de Makati rises on the urbane Washington dela Rosa for young professionals and t...
 
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Example : BUY 2 - 3BR at Victoria de Makati
₱ 3 Million / 42 = P 71.4k psm (still available? not sure)
Description

*Unfurnished (needs finishing, can commission outsider subject to terms and conditions but if internal 250k-400k)
*42sqm / 18th floor tower B

> https://www.olx.ph/item/3br-bi-level-condominium-unit-at-victoria-de-makati-ID85JvW.html?h=a5a55a4c23

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100 West is Getting Taller

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Looking past 100 West to the Tech Zone Building

Photo taken from the podium of Victoria de Makati. That's Avida Asten in the background

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FLOODING in the area - comments about it

I have heard that flooding in the area can get very bad, especially near the creek near Linear

However, some efforts have been made by the city to improve drainage, and this seems to have helped

 

Here's a comment that I translated from tagalog

There was one time I was looking for a unit for sale in Avida Makati West.
I was trying to gather also for some unbiased information so I casually asked the guard outside if there was a flooding situation in the area. He said that when it comes to flooding, there is a flood water that will build up (not necessarily reaching the guard house) but the thing is, it's very fast to come down. I guess this would be true, because the area would not be thriving and alive the area if there was often stagnant water around.

- M.S.

I prefer Asten because it's closer to Cash and Carry. I don't care about the flood because it's not everyday that it floods.

- S.

> ssc: http://www.skyscrapercity.com/showthread.php?t=1653942&page=7

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Avida Asten Turnovers

Turnover notices are going out for Tower 1

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The guard told me that Studio units were being rented at P20,000 per month

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WATCH PROGRESS in the Area on your laptop, or on your phone

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The Rise & Air are becoming real landmarks, are nearby, and can be used for Navigation

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Rise here from San Antonio area, here next to One Antonio & TechZone

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San Antonio Residence is Megaworld's new project, rising next to TechZone (to the right).  Behind it, across Gil Puyat is 100 West, a nicely-designed new project from FilInvest.  This photo was taken from XX Yakul St. (?)

TechZone has many call centers & software companies servicing online casinos in China, and so there are many Mandarin speakers and some "chinese flavor" to the neighborhood, which will likely be reflected in future restaurant openings (I hope, since I expect to live within an easy walk.)

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San Antonio Residences from Megaworld. This is from the "other side", from Gil Puyat, and so TechZone is on the left of SAR.

100%20West%20Makati_mix-D%202.jpg

100 West is unusual since it has 8 floors of BPO's and so some of the tenants for the flats above will come from the same building.

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MAP LOCATION of Megaworld's Antonio Residences1875189_orig.png

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A San Antonio Renaissance? Even for some older buildings

Older buildings in the area may eventually be good investments

... assuming near TechZone & Rise/Air continues to develop

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Palm Towers was built in 1996/2000 and is on St Paul Rd., parallel to Chino Roces

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From inside the Palm's internal driveway, The Rise dominates the view

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The Lobby area was recently renovated. The building was scheduled to complete in 1995/6, but do to financial difficulties, was delayed until 2000.  At that time, units were sold at auction as cheaply as P15,000 per sqm, according to a contact who participated in the auction.

(Note: P15,000 a "distress sale" price at auction would be just 23% of 2002 Makati Condo prices, near P65,000.)

To get that relatively cheap, then Palm Tower units would need to be sold for 23% of the recent Makati Condo index of P174,700 psm - that's P40,300 per sqm - and only 1/5th of recent developer prices at The Rise.

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The Palm's Pool area is not bad for an older building.

What's the Rent there - I don't have a lot of data, but I have this from a viber chat:

" I went by Palm Tower this weekend, took some photos, and stopped by the Admin office, to see if they offered anything to rent. Surprisingly, they had only One unit, they mentioned to me: 3 BR of 67 sqm - offered at P35,000 / month - that's just over P500 psm.
I also dropped by Avida Asten, where Tower 1 was completed end of last year - people are moving in.  The guard told me, the cheapest unit is P20,000/ month.  At 24sqm - that's near P800 psm.
Avida Asten is brand new, and a better location.  But using narrow streets, I could walk from Palm to Asten in maybe 5 minutes
This place might work ... it might work for investors and tenants on a lower budget.  If you can Rent at P 500psm and buy at P50,000 psm, you can earn a gross rent of 12%, and Net 10.8% after association fees of P50 psm/month (assuming that is the correct figure.)  I wonder how well the rental demand will hold up, when all the newer and much more expensive buildings are finished.  On the positive side, there is new office space in the area."

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LITTLE CHINA? : New name for San Antonia/ Techzone area

Big Profits for Landlords...?

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Big+Trouble+In+Little+China+by+Jason+Edm

Poster: BIG TROUBLE in Little China Poster

TRAILER

(Here's a comment from the 100 West thread on SSC):

I have noticed that this part of Makati is probably where most young Chinese expats reside.
Mas madami ka pang makakasalubong na chinese kesa pinoy.
Translate : "You can find more chinese than you are."
Did a little google search...
So as long as online gaming is illegal in China, this is a good thing for pinoy landlords I guess.
Reaction:
OT-- yes may Chinese invasion sa Ayala. Lahat ng underpass dun tadtad ng giant posters and ads in Chinese
Translate: "All of these underpass are giant posters and ads in Chinese"
https://www.pressreader.com/philippi...82153586736097
__________________
 
Why the connection to the 1986 film?
I think it came to me when I connected THESE images
 
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Top of Export Bank Plaza, Export and Import Bank's head office building near center of the Techzone area
 
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The huge straw hats worn by the three Storm "gods".
See Video:
 
The Techzone Building itself...

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...somehow reminds me of David Lo Pan, the villain from the BTILC film

 
Also, Little Tokyo is just a short walk down Chino Roces.
Manila's traditional Chinatown area is "tool old, and too dirty" to appeal to the modernized mainland Chinese who are flooding into Makati and the Manila Bay area

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100,000 Chinese Move to Manila And Trigger Property Surge

On Fri, May 4, 2018

By Bloomberg News

In Manila’s main financial district and its fringes, signs of the new inhabitants are everywhere: the restaurants serving steaming Chinese hotpots and dumplings, the Mandarin broadcasts at the Mall of Asia, and the soaring property prices.

An estimated 100,000 migrants, mostly Chinese, have flooded into pockets of the Philippines capital since September 2016, and the deluge is rippling through the city’s real estate market in ways that are unique among the world’s urban centers. While Chinese investors have been snapping up big swathes of high-end housing in Hong Kong, London and New York for years to move their money offshore, this new rush is motivated by something different: Manila’s booming gaming industry.

More than 50 offshore gambling companies that cater to overseas Chinese punters have received permits to operate in the city since President Rodrigo Duterte’s government began awarding licenses 19 months ago. While bets are placed remotely, the operators need Chinese speakers in Manila to handle everything from marketing and customer queries to payment processing for overseas clients.

The resulting migration, while only a fraction of the metropolitan area’s 12.9 million population, is propelling home prices to record levels in neighborhoods favored by Chinese workers. It’s reinvigorating Manila’s commercial property market as owners convert offices and shops into gaming centers with card tables and webcams. And it’s boosting the bottom lines of local developers including Ayala Land Inc. and SM Prime Holdings Inc.

While no official numbers are publicly available showing the number of Chinese arrivals in Manila, people familiar with the matter said that offshore gaming operators in the Philippines employ about 200,000 workers, predominantly Chinese, and more than half of them have arrived in the capital region since late 2016. The Bureau of Immigration said it couldn’t immediately provide the data.

The influx promises to boost the nation’s economy and is helping to strengthen ties with China – a priority for Duterte. Yet it leaves the property market vulnerable in the event of an abrupt shift in online gaming or immigration policies from either country.

The perils of relying too heavily on Chinese buyers became painfully obvious last year in the Malaysian enclave of Johor Bahru, which has been grappling with a glut of vacant homes after China imposed controls on investments in overseas property and demand abruptly dried up.

“Concentration risk could be a potential concern,” said Emilio Neri, an economist at the Bank of the Philippine Islands in Manila.

Others see only opportunities. Qiang Huang, a realtor based in the Chinese city of Hefei, expects Manila home prices to get a boost from the steady stream of Chinese workers catering not only to offshore gaming customers, but also mainland clients who frequent brick-and-mortar casinos.

A high-rolling gamer himself, Huang first visited the area in November to place bets at Bloomberry Resorts Corp.’s Solaire casino and realized that Manila could scratch more than his gambling itch. He’s planning to build a 500-square-meter showroom in the city to lure Chinese real estate investors and will soon sign contracts to market apartments at two projects.

“I chose an area with a booming gambling business, as properties there have the largest potential to appreciate,” Huang said, adding that he has run into Chinese tourists who have formed “property-shopping” groups.

Among the biggest beneficiaries of this appetite have been condo units near Manila’s Makati district, in close proximity to the gaming sites where mainland workers are employed. Patches of San Antonio Village, about one kilometer from Makati’s financial hub, now have restaurants, stores, money changers and payment centers catering to Chinese customers sharing space with local stores.

In the Bay Area adjacent to Makati, home prices surged by a record 27 percent in the last three months of 2017, according to data from Santos Knight Frank Inc., dwarfing the 6 percent overall gain in residential prices in the metropolitan Manila area. Condo sales in the capital region rose to an all-time high of 52,600 units in 2017.

Appetite from gaming operators is also supporting the commercial market as demand from traditional outsourcing companies wanes. The share of take-up of new office space by outsourcing companies decreased by a third to 46 percent in 2017, while that of offshore gaming operators tripled to 30 percent, said David Leechiu, CEO at Leechiu Property Consultants, which has partnered with CBRE Group Inc. in the Philippines.

“If not for offshore gaming operators, the property market would have crashed last year,” Leechiu said.

A typical online gaming operation consists of dealing studios and a call center-like facility that serves offshore customers. A studio that Bloomberg News recently toured in Makati City spanned roughly 400 square meters, with tables for games such as baccarat, Dragon Tiger and Fantan. Dealers – mostly young Filipino women wearing snug halter-neck dresses – staffed each table.

Eight kilometers away, in another part of the city, is the main customer-service center. The 6,000 square meter space is divided into dozens of rooms with rows of desks that seat more than 5,000 employees. A cafeteria serves free meals around the clock, catering to the army of mostly mainland workers and some Taiwanese and Malaysian staff. Other amenities include a hotpot restaurant and a convenience store stocking Chinese snacks and other products.

Fast Facts on Philippine Offshore Gaming Operators Also known as POGOs Such operations were limited to three provinces north of Manila before Sept. 2016 decision to expand them to the capital region 55 permits for POGOs have been awarded since then 14 of those are engaged in sports betting Revenue from POGOs quintupled to 3.57 billion Philippine pesos ($70 million) in 2017 from a year earlier Source: Philippine Amusement & Gaming Corp.

Record Earnings

Chinese demand is helping stoke record earnings at some builders. At SM Prime, the nation’s largest property developer, Chinese buyers accounted for almost 30 percent of residential reservation sales in the first quarter. The share of mainland nationals who bought homes from Ayala Land jumped to almost half of all sales to foreign buyers last year from 30 percent in 2016. Offshore gaming companies occupy 60 percent of DoubleDragon Properties Corp.’s completed office space in the Bay Area and they’re paying rents one-third higher than other tenants, said Chief Executive Officer Injap Sia.

Developers aren’t betting that boom times will last forever. Ayala Land’s President Bobby Dy said the builder will limit offshore gaming leases to 10 percent of its office portfolio. DoubleDragon plans to cap total exposure to such tenants to 30 percent once all its office towers are completed. The firm requires a one-year deposit from offshore gaming operators and post-dated checks for the duration of the five-year contract.

Kitt Lapeña, 34, a Makati resident for most of his life, has seen waves of foreign residents come and go before, from Japan and Korea, but never on the scale of the recent Chinese influx. While he welcomes the economic boost, he worries about the motivations of the new arrivals.

“In a way, it’s good for business,” Lapeña said. “I hope they become an asset to the community and not just out to make money.”

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" An estimated 100,000 migrants, mostly Chinese, have flooded into pockets of the Philippines capital since September 2016, and the deluge is rippling through the city’s real estate market in ways that are unique among the world’s urban centers. "

I'm not sure where they get that 100,000 figure

But the influx of Chinese is having a very real impact on the TechZone / San Antonio area - as well as many other "pocket" & bigger areas

“If not for offshore gaming operators, the property market would have crashed last year,” Leechiu said.

A typical online gaming operation consists of dealing studios and a call center-like facility that serves offshore customers. A studio that Bloomberg News recently toured in Makati City spanned roughly 400 square meters, with tables for games such as baccarat, Dragon Tiger and Fantan. Dealers – mostly young Filipino women wearing snug halter-neck dresses – staffed each table.

Eight kilometers away, in another part of the city, is the main customer-service center. The 6,000 square meter space is divided into dozens of rooms with rows of desks that seat more than 5,000 employees. A cafeteria serves free meals around the clock, catering to the army of mostly mainland workers and some Taiwanese and Malaysian staff. Other amenities include a hotpot restaurant and a convenience store stocking Chinese snacks and other products.

CRASHED?  Maybe not the whole thing, the whole of Greater Manila

But there are some areas like Manila Bay that are/were highly vulnerable

Manila Bay is more vulnerable than San Antonio, I reckon, because casinos and tourism are the Main (sole?) drivers for demand.

At least those who live in Asten or 100 west, or Palm Tower can walk to jobs in other industries up on Ayala Avenue

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Rush of Chinese arrivals on back of Manila's booming gaming industry ...

South China Morning Post-7 May 2018
Observers expect home prices in the Philippines capital to get a boost from the steady stream of Chinese workers catering not only to offshore gaming customers, but also mainland clients who frequent bricks-and-mortar casinos
 
In Manila’s main financial district and its fringes, signs of the new inhabitants are everywhere: the restaurants serving steaming Chinese hotpots and dumplings, the Mandarin broadcasts at the Mall of Asia, and the soaring property prices.
 
Among the biggest beneficiaries of this appetite have been condo units near Manila’s Makati district, in proximity to the gaming sites where mainland workers are employed. Patches of San Antonio Village, about one kilometre from Makati’s financial hub, now have restaurants, stores, money changers and payment centres catering to Chinese customers sharing space with local stores.  ...

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POSTERS: In 1986, it was the Title of a cult film...

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In 2018, Little China / San Antonio became an investment concept :

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Girl in blue (Kim Cattral) Do you recognize her?  She later played Samantha in Sex in the City

Filinvest forecasts surge in value of 100 West project

Property developer Filinvest Land Inc. (FLI) says it expects a surge in the investment value of its 100 West mixed-use development in Makati City once the proposed rail and skyway projects within its vicinity become operational .

Targeted for completion by end-Dec. 2019, 100 West is a mixed-use development that will offer residential, commercial, and office spaces. In a statement, FLI-noted that 100 West is strategically located along Gil Puyat Ave. and Washington St. in Makati City and stands to benefit from the proposed railway that will link Southern Manila and the northern part of Luzon.

"We foresee an upsurge in the project's investment value when the new infrastructure and businesses are in place," said Janette Cordero, Filinvest VP for Metro-Manila mixed use projects.

"Construction of the project is in full swing ... we are in track for our target delivery date." (end of 2019)

=== ===

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The folks in the 100 West showroom told us that there would be 5,000 jobs created within the BPO and commercial parts of the Building.  (I reckon that must be based on three 8 hour shifts.)

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TechZone owner, LR, is still on the slide ... towards P 3 peso perhaps

LR.ph / Lesuire & Resorts World ... update : 5-yr : 2-yr : 6-mo / 10d - Last: P 4.09 : PER: 16.58 / EPS: 0.247 : yield: 3.42%

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In hindsight, the recent high above P 7.00 (7.49) was a great selling opportunity.

If the dividend stays at the current level (P4.09 x 3.42% = P0.14), then at P3, the yield would be 4.67%

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Meantime, next to the TechZone Building...

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Megaworld's San Antonio Residences is rising

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The "China Wave" continues - & is flooding several properties in the TechZone area

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Amenities at Asten Towers. Handover of flats in Asten Tower 2 is underway.

You can see comments like this on SSC, as Mainland tenants (who are likely to be most of the "foreigner" tenants) adjust to life in PH, and Filipino tenants adjust to a building dominated by large number from one country, where habits are different:

Did you stay in your unit in Tower 1? I was also there last February - March to oversee the renovation of our unit. So far, so good. The amenities are still unavailable though.

Majority of the tenants here are foreigners. Everyday, you can see leasing agents with their clients, checking out units for rent. I've nothing against them but these foreigners love to congregate in the lobby especially at night, playing on their mobile phones with their feet on top of the table or the couch. Some of them are even sleeping on the couch. I've already raised this concern with the management. Hopefully they do something about it.

> SSC: https://www.skyscrapercity.com/showthread.php?t=1653942&page=8

No doubt, Avida management will get any excesses, or bad habits under control (eventually.)

It is interesting to see the impact on the resident mix in the area...

+ 50% of the tenants at Avida Makati West, are said to be from mainland China (per Avida admin)
+ "80% of the people living in Belton Place are Chinese", was an estimate I heard from a Belton resident

Rents have pushed up too, as the demand remains high.
 
+ I was told that P1,000 per sqm is common at Belton Place. Even P18,000 for a 16sqm studio
+ A new studio unit at Asten (23 sqm) can be rented at P20k bare, or P26-28k Fully furnished to mainland
China tenants working for Casino-related businesses
+ The mainlanders may get a living allowance of P10,000-30,000, depending on their position and the company
+ Many new workers may initially live in single sex dormitories, but when couples form, they look for their own studio or 1BR units so they can live together.  (This could be reasonably common if the estimates I heard that 20-30% of the foreign casino workers are female.  And Chinese males may also want a nice private flat to attract local Filipina girlfriends.)

Premium for Asten (over Avida Tower San Lorenzo)

It used to be true that units at Avida Tower San Lorenzo (down Chino Roces, next to WalterMart), used to rent for a nice premium to Avida Makati West (and also maybe to Asten), because of the much shorter walk to the popular Greenbelt Mall.  That is not necessarily true any more.  For mainlanders who work in the Techzone building, or in iAcademy or nearby they prefer to live within a short walk, like 5 minutes.  This makes it easier to deal with working shifts at odd hours, and also to cope with transport issues when it is raining.

Thus, I have seen AT-SanLo rents push up, but not as much as Avida Asten.  SanLo recently had a few studios open for rental. And the rents beings suggested for 22 sqm studios were: about 16,000 bare, and P 24,000-26,000 for Fully furnished studios.  That's pretty good: about 1,100-1,200 psm for FF, but less than the P26-28,000 expected at Asten.

It will be interesting to see if the Asten advantage holds in the future, because there are several new buildings under construction nearby (100 West, San Antonio Residences, One Antonio, and a little further away: The Rise, and Air Residences, which have both topped out now.)  There is nothing new under-construction near AT-SanLo.

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ENHANCED INCOMES -  with the development of Techzone / "Little China"

RT posted on one of the viber chats:

"Just saw a facebook ad.  Multiple jobs requiring Mandarin.   60-140k.   That means lots of spare investment money."

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Example - but not from FB > source

My reaction:

+ If they spend 30% of P140k on housing-  that's P42,000 a month - it may help push up rents for certain flats.

+ If you take 1/3 of that - you can rent/buy some decent housing with that. If people BUY instead, they might buy a P5-6 million flat, and perhaps more (if they have some savings or other income to add to value of the purchase)

+ Could help valuations on places like The Rise and Air, with values now near P6million - and also at Kroma where 1 BR were valued at P8-10 million not long ago

+ Ayala will want some of those jobs at their new BPO buildings at CityGate and Circuit. And Filinvest will want them at 100 West - to help them rent & sell more flats, if nothing else

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SIGNS - are appearing in Chinese writing in restaurant windows

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"Chinese style-BBQ", I am told this says

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Fire Station is a short walk (from  "Little China") down Amorsolo St.

Previously the restaurant featured Philadelphia style cheese steak sandwiches

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There are also updated prices for Avida Asten.

According to this facebook page, the price per square meter for a 1BR flat in Avida Asten 

24,60 square meter - PHP4,444,000, that's PHP180,000 per square meter.

(in the previous post - dec 2016 - it was only PHP115K per square meter). 

https://www.facebook.com/search/top/?q=AyalaLand Hong Kong

 

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RED Residences in location ... Larger Image :

3ddc7bb5af634f5f9bd4881460ab446d.jpg

You can see where Red Residences will rise up - next to Paseo de Roces (from Federal Land)

It is a short walk along Chino Roces to what I call "Little China".

Walk down the street for 3-5 minutes, and turn left

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See also comments in the other Chino de Roces thread:

Chino Roces / WalterMart to Magallanes - A future Hotspot?

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